Fall in FDI, weakening shilling keep Kenya trailing EA neighbours
Central Bank of Kenya Governor Kamau Thugge responds to a question during a meeting at English Point Marina in Mombasa, Kenya on November 10, 2023. PHOTO | WACHIRA MWANGI | NMG
The Central Bank of Kenya (CBK) has is blaming a lag in foreign direct investment for the country’s loss of competitiveness compared to its East African counterparts.
Earlier in the week, CBK published comparative data for Kenya, Uganda and Tanzania, covering various measures and ratios such as the current account, exports-to-GDP, travel receipts, FDI and debt service, which show that Kenya’s position has deteriorated consistently compared to those of her EAC neighbours.
